Referrals meets Recruiter: How to recruit with the power of your company's network [webcast]
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As a LinkedIn Recruiter user whose company also has LinkedIn Referrals, you have advantages few recruiters have. LinkedIn's Nick Wiik and Customer Success Manager, Prachi Banga show you exactly how to leverage the new Recruiter features tied to Referrals, discover the benefits and use cases, and get ahead of what features are coming next. Covering: - How to dive into employee networks or functional networks (i.e. Marketing) through the Company Connections spotlight in Recruiter. - How to use Recruiter to streamline and gather employee feedback. - How to filter Recruiter searches by candidates already in your ATS. - Upcoming Referrals features Visit us here to learn more about LinkedIn Talent Solutions:
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Referrals meets Recruiter: How to recruit with the power of your company's network [webcast]
- 1. Referrals Meets Recruiter Webcast November 8th, 2016
- 2. © 2016 LinkedIn Corporation. All Rights Reserved. | How to recruit with the power of your company’s network Referrals Meets Recruiter Speakers
- 3. © 2016 LinkedIn Corporation. All Rights Reserved. | Agenda & Objectives Objectives You’ll leave this call with… 1. New industry stats 2. A detailed understanding of new enhancements 3. Concrete use cases Agenda 1. Trends You Can Use 2. Referrals & Recruiter 3. Live Demo 4. Q&A
- 4. Trends recruiters need to know
- 5. © 2016 LinkedIn Corporation. All Rights Reserved. | Businesses win with the right talent, but acquiring talent is increasingly difficult and costly 5 1 Bureau of Labour Statistics, 2015 2 Aberdeen, 2015 3 LinkedIn Talent Trends, 2016 4 Bersin, Talent Acquisition Factbook, 2015 Transient workforce 1 in 4 employees say they’ll switch jobs within the year3 High competition for talent 14 Year high for job openings in the U.S.1 Low supply of people with key skills 80% of companies say there is a skills shortage2 Requiring more of your time and resources +7% more spend • +9% more TA headcount • +8% longer to fill a role4
- 6. © 2016 LinkedIn Corporation. All Rights Reserved. | Talent is more active than ever and their paths are influenced by people and companies they trust 6 ? ? ? ? ? ? ? ? ? #1The #1 way talent discovers a job opportunity is from someone they know2 66%Of job switchers knew about their company before they heard about the opportunity3 ? ? ? 1 CEB, Branding for Influence, 2014 2 LinkedIn, Job Switcher Survey, 2016 3 LinkedIn, Talent Trends, 2016
- 7. © 2016 LinkedIn Corporation. All Rights Reserved. | Quality #1Highest on-the-job performance1 Time #1Fastest time to fill2 Tenure #13x more likely to stay for 3 years2 Employee referrals are widely accepted as the best source of hire 95% of TA leaders describe referrals as an important part of their recruitment process3 1 Dr. John Sullivan on ERE | 2 Jobvite Index | 3 LinkedIn 2015 survey of 979 talent acquisition leaders. 7© 2016 LinkedIn Corporation. All Rights Reserved. |
- 9. © 2016 LinkedIn Corporation. All Rights Reserved. | Unlocking your company’s network can be challenging Recruiters Proactive Sourcing “How do I gain visibility into my company’s network?” “How do I tap employees for help in recruiting?” 9
- 10. © 2016 LinkedIn Corporation. All Rights Reserved. | Your company network can be a significant asset in helping you to acquire talent on this path 10 CLIENT employees are on LinkedIn Professionals directly connected to your employees Demo Co. Employees Company Connections 1,500,000 10,000 ATS Data * Total Applicants in your ATS (past two years) 150,000 LinkedIn past applicants* All past applicants
- 11. © 2016 LinkedIn Corporation. All Rights Reserved. | Your company network helps you hire faster 1. Percentage of professionals on LinkedIn who responded to an InMail sent via Recruiter in the past six months 2. Members are considered connected if they were connected to at least one employee prior to inMail being sent 3. Members who applied on LinkedIn prior to receiving an InMail Acceptance rate of professionals not previously connected Acceptance rate of professionals previously connected2 +46% More likely to respond to InMails 11 ~2x More likely to respond to InMails Acceptance rate of professionals previously applied3 Not Connected Company Connections Past Applicants InMail Response Rates by Recipients X%
- 12. © 2016 LinkedIn Corporation. All Rights Reserved. | LinkedIn Referrals: an employee referral portal, enhancements to Recruiter, and an admin portal 12 Referral portal for all employees Enhancements to all Recruiter licenses Admin portal for TA/HR leaders
- 13. ©2016 LinkedIn Corporation. All Rights Reserved.
Notas del editor
- Let’s start with something we all can agree on … The people that lead, support, and enable your business are critical to your success. Businesses win when they have the right talent. And we see it in the data. Boston Consulting Group found that recruiting has the highest business impact of any HR function on revenue and profit margins. And we know that high performers deliver considerably more value to your business than average performers. But acquiring the right talent is increasingly difficult and costly. It’s becoming harder to bring great talent into your company. First, there’s high competition. Job openings in the U.S. are at a 14-year high and the pace of hiring is expected to still accelerate. This competition is compounded by a low supply of critical talent. 80% of companies say there is a shortage of critical skills available in the labor pool (Aberdeen 2015). So, not only does talent have options, but there are a lot of companies trying to recruit the same people. These market pressures are then exacerbated by cultural changes. Talent is simply more transient today; 1 out of every 4 employees say they’ll switch jobs within the year, resulting in a perpetual need to recruit new talent. The result is that companies are spending more and getting less. Despite increased investments in talent acquisition, it’s taking longer to recruit the right talent.
- But there is good news. Surrounded by all this opportunity, talent is more active and more open than ever before. On LinkedIn, 90% of our members say that are at least somewhat interested in new opportunities. Some are actively looking for new roles and others are simply open to talking to a recruiter. Regardless, this means 9 out of every 10 people you connect with on LinkedIn could be a potential candidate. The challenge is, with so many options, talent doesn’t know which direction to go. According to a study by CEB, 69% of potential applicants say they don’t know where they’d go if they left their current job. So, talent turns to the people and the companies that they trust. The #1 way that talent discovers new opportunities is from someone they know. And most job switchers knew about their company before they learned about the opportunity to work there.
- If you’ve been in talent acquisition for a while, you’ve likely heard the many praises of employee referrals as a source of hire. Measureable factors like quality of hire, time to hire, and tenure of hires show that employee referrals are simply the best source of hire. It’s intuitive… …the people currently in the roles have the best gauge on whether or not a candidate would perform well… …referring employees can help close candidates quicker… …and people want to stay at companies where they know and like their coworkers For Talent Acquisition leaders, they reap the benefits of hiring via employee referrals because the hire better candidates faster who ultimately stay longer at their company. It’s no wonder 95% of TA leaders describe referrals as an important part of their recruitment process. ***DATA*** Highest on-the-job performance 1 – Dr. John Sullivan Fastest time to fill (29 days, 39 days for job boards, and 45 days for career sites)2. Referrals are over 3x more likely to stay for 3 years than hires coming from job boards2.
- HEADLINE: proactive sourcing into your company connection pool is currently difficult. Furthermore, recruiters are not able to: See this talent pool when sourcing Ask for help from employees when sourcing the people they know What this means for recruiters is there’s no way to directly target this valuable talent pool which leads to slower recruiting there’s no workflow to ask employees for help which leads to difficulties in filling hard to fill roles. Many recruiters take advantage of their company connection pool today when the opportunity presents itself – say you see a recommendation on a candidate’s profile from a fellow employee – but there’s no way to see that connection at scale when searching and no workflow to ask that employee for help.
- If we know talent trusts people they know and company's they already know and trust, the idea of a company network becomes very valuable. Employees - Employee referrals are #1 in terms of quality of hire, time-to-hire, and tenure of hires. Company Connections - The average company has 10x more Company Connections than followers ATS Data - The candidate and prospect information your company has built over time
- HEADLINE: Targeting this talent pool will make your sourcing efforts more efficient. Fortunately, by taking a look at your Recruiter performance in the past, we can see that targeting your company connections on LinkedIn will make your proactive sourcing efforts more efficient. Compared to targeting candidates who are not connected to anyone at your company, targeting company connections has yielded a [% from black circle] higher InMail response rate for your LI Recruiter users…
- Here’s what we’ll walk through in a quick demo…